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發表於 2006-12-21 07:19 PM
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NEW YORK, Dec 20 (Reuters) - Standard & Poor's
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; E0 L$ B4 |+ Jon Wednesday changed its outlook on HSBC Holdings Plc (HSBA.L: Quote, Profile , Research) to positive from stable, citing continuing benefits from the company's earnings diversification and global reach.
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' L; W$ C0 x" C/ U: V% ?1 OThe new outlook reflects "the extraordinary diversification of the business profile, which provides a substantial earnings cushion to offset the volatility of individual business lines and geographies," S&P said in a statement.
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"The earnings mix means that HSBC is managing to produce high-quality group earnings even when individual markets suffer setbacks or hit difficult conditions," S&P said. 5 d( C! }& B8 \2 A+ x
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The outlook change also reflects HSBC's unique blend of potentially high-growth emerging market activities with a range of more mature businesses, and a strong enterprise risk management framework, "which is remarkably integrated for such a global group," S&P said.
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HSBC also benefits from the depth of its global retail deposit franchise, S&P said.
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% t1 ]6 }/ W1 W1 o/ M3 F0 L5 h/ yS&P rates HSBC's long term debt "AA-minus," its fourth highest ranking. A positive outlook indicates the ratings are likely to be raised over the next two years.
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. R. C4 l: q& A. j[ Last edited by 新經濟學巨人 on 2006-12-21 at 07:20 PM ] |

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